Looking to balance out your exposure to ENVB? The ETFs below have historically moved differently from ENVB, which may reduce portfolio volatility when combined in a suitable allocation. The stock ideas table highlights individual companies with the same low-correlation characteristics. Correlation can change and does not guarantee that one asset will rise when another falls.
Best Diversifiers for ENVB
11 ETFs have low correlation with ENVB (below 0.3), 1 of which are negatively correlated.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Schwab Government Money Market ETF | -0.08 | — | — | 100 | Money Market | ENVB vs SGVT | |
| VanEck Pharmaceutical ETF | 0.07 | 0.12 | 0.15 | 83 | Health & Biotech Equities | ENVB vs PPH | |
| Invesco Nasdaq Biotechnology ETF | 0.12 | 0.20 | 0.25 | 91 | Health & Biotech Equities | ENVB vs IBBQ | |
| JPMorgan Nasdaq Equity Premium Income ETF | 0.13 | 0.15 | — | 55 | Nasdaq-100, Derivative Income | ENVB vs JEPQ | |
| Invesco S&P Ultra Dividend Revenue ETF | 0.15 | 0.21 | 0.22 | 95 | Mid Cap Value Equities, Dividend | ENVB vs RDIV |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for ENVB, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is Duke Energy Corporation (DUK) (Utilities) with a 1Y correlation of -0.09, down from 0.05 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Duke Energy Corporation | -0.09 | 0.04 | 0.05 | 56 | Utilities | |
| AbbVie Inc. | -0.06 | 0.04 | 0.03 | 81 | Healthcare | |
| Chevron Corporation | -0.03 | 0.03 | 0.07 | 80 | Energy | |
| Berkshire Hathaway Inc. | 0.02 | 0.06 | 0.13 | 61 | Financial Services | |
| Eli Lilly and Company | 0.05 | 0.06 | 0.05 | 83 | Healthcare |
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